Blue Star Foods raises $1.8M in underwritten public offering of common stock and pre-funded warrants

Blue Star Foods Corp.

Offering of 9M shares/pre-funded warrants priced at $0.20 per equivalent; Aegis Capital sole underwriter.
Gross proceeds of ~$1.8M before expenses; over-allotment option could increase to ~$2.0M.
Proceeds for general corporate purposes, working capital, operating expenses, and potential acquisitions.
Offering closed February 14, 2023; uses effective shelf registration statement on Form S-3.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

Blue Star Foods Corp. entered into Warrant Agent Agreement with Vstock Transfer, LLC valued at Pre-funded warrants issued in registered form (effective 2023-02-10).

Action: entry
Counterparty: Vstock Transfer, LLC
Value: Pre-funded warrants issued in registered form
Effective: 2023-02-10

Exact text from the filing

The Pre-funded Warrants were issued in registered form under a warrant agent agreement (the “ Warrant Agent Agreement ”) between the Company and Vstock Transfer, LLC as the warrant agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Blue Star Foods Corp. entered into Underwriting Agreement with Aegis Capital Corp. valued at 8,200,000 shares common stock plus 800,000 pre-funded warrants, gross proceeds approx. $1.8 million (effective 2023-02-10).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: 8,200,000 shares common stock plus 800,000 pre-funded warrants, gross proceeds approx. $1.8 million
Effective: 2023-02-10

Exact text from the filing

On February 10, 2023, Blue Star Foods Corp., a Delaware corporation (the “ Company ”), entered into an underwriting agreement (the “ Underwriting Agreement ”) with Aegis Capital Corp. (the “ Underwriter ”), pursuant to which the Company agreed to sell to the Underwriter, in a firm commitment public offering (the “ Offering ”), (i) 8,200,000 shares of the Company’s common stock, par value $0.0001 per share (the “ Firm Shares ”), for a public offering price of $0.20 per share and (ii) pre-funded warrants (the “ Pre-funded Warrants ”) to purchase 800,000 shares of the Company’s common stock (the “ Warrant Shares ”), for a public offering price of $0.199 per Pre-funded Warrant to those purchasers whose purchase of common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the holder, 9.99%) of the Company’s outstanding common stock immediately following the cons

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Blue Star Foods Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-005204

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